2022-12-31-accounts - The Silk Route

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THE SILK ROUTE

REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

Registered Charity No. 1188427

THE SILK ROUTE

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

CONTENTS	PAGES
Charity information	2
Report of the Trustees	3-5
Independent Examiner’s Report	6
Receipts and payments accounts	7-8

THE SILK ROUTE

CHARITY INFORMATION

TRUSTEES

PRINCIPAL OFFICE

CHARITY NUMBER

INDEPENDENT EXAMINERS

Redwan El-Khayat Mohamad Monkiz Khasreen Aiman Alzetani Syed Mateenul Hussain

Unit 5 Radcliffe Court Radcliffe Road Southampton SO14 0PH

1188427

Basra & Basra Ltd 9 London Road Southampton SO15 2AE

THE SILK ROUTE

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022

The trustees have pleasure in presenting their annual report together with the independently examined financial statements for the year ended 31 December 2022. The financial statements comply with the charity’s trust deed and the Charities Act 2011.

Objectives and Activities

The charity’s governing document defines its objectives as the promotion of religious harmony for the benefit of the public, the relief of sickness and the preservation of health and the furtherance or benefit of residents.

To help it achieve the above objectives, the charity uses various activities, including faithbased activities, community workshops, fundraising events and working with NHS organisations.

The trustees regard the guidance issued by the Charity Commission on public benefit.

Future Plans

The charity has been active in its attempts to acquire a community centre. Indeed, a bid was made against a property in Chandlers Ford, Eastleigh, however, after the bid was initially accepted, it was later declined. The charity has contacted Test Valley Council on different occasions to discuss the needs of the community and seek their advice.

Efforts will continue to be made for this purpose including setting up a business plan to secure funding. The charity also encourages the younger generation to be more involved in processes and decision making and will continue to do so.

Achievements and Performance

Regular prayers have been organised to help the local Muslim community practicing their faith peacefully.
Volunteers workshop have been set up to help with recruitment and identified potential needs of the community, opportunities for younger generation to have more social responsibility.
Weekend prayers have been held to provide a safe space for members to observe congregational prayers.
The wider community from different faiths and backgrounds have been invited to share in multifaith iftar/dinners.
Series of talks have been held by one of the trustees touching upon various aspects, including mental health and how to deal with etiquettes in Islam.
COVID and vaccination awareness programs have helped increase COVID vaccination rates among the community and vaccination drives in Southampton mosques have allowed more and more people to get vaccinated quickly.
The charity has worked with Cancer Alliance and various NHS groups to provide health checks, awareness and access to services among disadvantaged groups.

Financial Review

The charity’s activities are reliant on donations from the public, as well as fees received for the supply of services provided by the charity.

THE SILK ROUTE

The trustees are aware of the principal risks facing the charity and identify these as:

The cost of living crisis making pledges difficult for members
Property prices around the local area making it difficult to secure the community centre
Fluctuations in the market making it difficult to raise money
Securing relevant bookings in the right places to meet the needs of members
Expectations and commitments of the diverse community served by the charity

The charity’s principal sources of funds are monthly memberships, funds collection from events, loans and grants. Total receipts in the period decreased to £72,060 (2021: £74,147) although it should be noted that the previous year included loans of £20,000.

Expenses of the charity remain largely consistent with the previous period, however there was a noticeable increase in premises hire to £11,569 (2021: £5,211). All funds, including any surplus carried forward, are used for charitable purposes.

At the end of the period, there was a surplus achieved of £48,853 (2021: £61,735).

Reserves Policy

Reserves are held to cover the operating costs for the charity and the Arabic school, and to contribute to the fund for the construction/acquisition of a community centre.

The trustees aim to maintain free reserves in unrestricted funds and any surplus achieved at the end of a reporting period is added to accumulated funds.

Reserves held at the date of this report were £110,588. The trustees consider that the funds will be sufficient to support the charity and cover the costs of its ongoing activities.

Structure, Governance and Management

The charity is a charitable incorporated organisation (CIO), charity number 1188427, and is constituted under a trust deed dated 9 March 2020.

The trustees consider the board of trustees as comprising the key management personnel of the charity in charge of directing and controlling the charity and running and operating the charity on a day-to-day basis. All trustees give of their time freely with no remuneration paid in the period and no trustee expenses being incurred.

Trustees are required to disclose all relevant interests in accordance with the charity’s policy and withdraw from decisions where a conflict of interest arises. Neither the charity nor any of the trustees have interests that give rise to a conflict of interest, but any such interests would be disclosed.

Trustees are selected based on being active volunteers and influential people within the community. Every two years we will have re-election of number of trustees.

Reference and Administrative details

The administrative details of the charity can be found on page 2.

THE SILK ROUTE

Trustees’ responsibilities in relation to the financial statements

The charity trustees are responsible for preparing a trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the charity trustees to prepare the financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources for the year. In preparing these financial statements, the trustees are required to:

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the applicable accounting standard;
make judgements and estimates that are reasonable and prudent;
state whether applicable accounting standards have been followed, subject to any material departures that must be disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue to operate.

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

25-10-23 Approved by the trustees on ………………. and signed on their behalf by:

…………………… Trustee

Dr Redwan El-khayat, Chair

…………………… Trustee

Dr Monkiz Khasreen

THE SILK ROUTE

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF SOUTHAMPTON MOSQUE TRUST

I report to the charity trustees on my examination of the financial statements of the charity for the year ended 31 December 2022 which are set out on pages 7 to 8.

Responsibilities and basis of report

As the charity’s trustees you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:

accounting records were not kept in accordance with section 130 of the Charities Act; or
the financial statements do not accord with those records; or
the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a ‘true and fair view’ which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report to enable a proper understanding of the financial statements to be reached.

Signed:

Basra & Basra Ltd 9 London Road Southampton SO15 2AE

Date:

THE SILK ROUTE

RECEIPTS AND PAYMENTS ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2022

Unrestricted funds Restricted funds Endowment funds Total funds 2022 Total funds 2021 £ £ £ £ £	Unrestricted funds Restricted funds Endowment funds Total funds 2022 Total funds 2021 £ £ £ £ £	Unrestricted funds Restricted funds Endowment funds Total funds 2022 Total funds 2021 £ £ £ £ £	Unrestricted funds Restricted funds Endowment funds Total funds 2022 Total funds 2021 £ £ £ £ £	Unrestricted funds Restricted funds Endowment funds Total funds 2022 Total funds 2021 £ £ £ £ £
20,723	-	-	20,723	14,432
-	-	-	-	3,052
46,454	-	-	46,454	21,508
2,653	-	-	2,653	2,770
2,000	-	-	2,000	-
230	-	-	230	-
-	-	-	-	20,000
-	-	-	-	6,730
72,060	-	-	72,060	68,492

-	-	-	-	5,655
-	-	-	-	5,655
72,060 - - 72,060 74,147
74	-	-	74	-
-	-	-	-	35
1,816	-	-	1,816	1,947
-	-	-	-	2,093
403	-	-	403	285
251	-	-	251	8
11,569	-	-	11,569	5,211
9,094	-	-	9,094	2,833
23,207	-	-	23,207	12,412

A4 Asset and investment purchases (see table)

Subtotal

Total payments

Net of receipts/(payments) A5 Transfers between funds A6 Cash funds last year end Cash funds this year end

-	-	-	-	-
-	-	-	-	-

23,207	-	-	23,207	12,412

48,853	-	-	48,853	61,735
-	-	-	-	-
61,735	-	-	61,735	-
110,588	-	-	110,588	61,735

THE SILK ROUTE

STATEMENT OF ASSETS AND LIABILITIES

AS AT 31 DECEMBER 2022

	Unrestricted funds £	Restricted funds £	Endowment funds £
Arabic school	9,327	-	-
Main SRC account	101,161	-	-
Petty cash	100	-	-
Total cash funds	110,588	-	-
	Unrestricted funds £	Restricted funds £	Endowment funds £
		-	-
	Funds to which asset belongs	Cost (optional)	Current value (optional)
		-	-
	Funds to which asset belongs	Cost (optional)	Current value (optional)
		-	-
	Funds to which liability relates	Amount due (optional)	When due (optional)
Loans	Unrestricted	20,000

25-10-23

Approved by the trustees on ………………. and signed on their behalf by:

……………………… Trustee

Dr Redwan El-khayat